Greece, a Mediterranean country in the heart of Europe, is providing foreign investors with Greece residence or citizenship (Greece passport) in order to help the country’s economy. The Greek passport is equivalent to that of Germany, France, or any other EU country; holders of Greek passports are free to live, work, or study in any EU country.
Many affluent individuals have made Greece their second home due to its warm Mediterranean environment, world-renowned gastronomy, and cosmopolitan cities, as well as the country’s gorgeous beaches and true local traditions and hospitality.
After seven years, applicants who live in Greece can apply for citizenship and a passport. After obtaining citizenship, applicants are free to sell their assets, as visa renewals are no longer required. The Greek golden visa program is classified as a residency investment program rather than citizenship by investment program due to the requirement of residency in the country. Citizenship is available to those who are committed to residing in Greece.
The Greek Golden Visa program is a residency-by-investment program that needs a EUR 250,000 minimum investment. This program, which is normally granted in less than 6 months, provides visa-free travel to the Schengen Area as well as the right to live in Greece permanently.
One of the most popular investment visa programs in the EU is the Golden Visa for Greece. It’s a residence-by-investment visa for non-EU citizens who contribute significantly to the Greek economy. There are numerous ways to invest, but the most common is to buy real estate worth at least a quarter-million dollars.
You can start the application process once you have all of the necessary documents gathered, translated, and verified. To apply, you must travel to Greece because the Alien and Immigration Department of the Decentralised Authority in Greece is the only authority that processes these applications.
If your application is approved, you will be required to return to Greece to provide your biometric data. Given this, applying for a multiple-entry national visa to Greece may be a smart idea to ensure that you do not need to apply for another visa to enter Greece.
After you’ve completed all of this, you’ll be granted a 5-year Golden Visa residency permit. This 5-year visa can be renewed every 5 years as long as your investment remains the same.
The Greek golden visa program is classified as a residency investment program rather than citizenship by investment program due to the requirement of residency in the country. Citizenship is available to those who are committed to residing in Greece. This procedure can only be completed if the applicant can show that they have developed strong ties with the country and have successfully assimilated into Greek society, both financially and socially.
However, unlike residence, you cannot apply for Greek citizenship without residing in Greece and paying taxes. Before applying for citizenship, you must have lived in Greece for at least seven years.
In Greece, a real estate investment of €250,000 is required, making it the lowest investment amount of any real estate resident visa system in Europe. The property can be either residential or commercial and can be located anywhere on the Greek mainland or islands. The €250,000 minimum investment can be made up of any number of properties.
Real estate holding period: Maintaining and renewing a residency permit is required.
The minimum real estate investment: EUR 250,000
Ownership configuration: Shared or sole ownership
Possibility of rental income: 2.5–4.5% on residential real estate. 5%–7% on commercial real estate
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